Trust Fund Solicitors Near You
Creating a trust fund is a powerful way to protect your assets and provide for your loved ones' future. Our local SRA-regulated solicitors are experts in designing and drafting bespoke trusts to meet your unique family and financial circumstances.
Why Create a Trust Fund?
A trust is a powerful legal arrangement that allows you to set aside assets to be managed by people you choose (your 'Trustees') for the benefit of others (your 'Beneficiaries'). It gives you far greater control and protection than a simple gift in a Will.
- Provide for Children & Grandchildren: Ring-fence funds for a child's education, house deposit, or until they reach a mature age.
- Protect Vulnerable Beneficiaries: Provide for a loved one with a disability without impacting their entitlement to state benefits.
- Asset Protection: A trust can help protect family assets from future divorce settlements or financial difficulties.
- Complex Estate Planning: A key tool for effective Inheritance Tax planning and managing business assets.
Types of Trusts We Advise On
Our trust fund solicitors can advise on the most suitable structure for your needs.
Bare Trusts
The simplest form, where assets are held in a trustee's name, but the beneficiary is entitled to them at age 18.
Discretionary Trusts
Highly flexible. Trustees have discretion over how and when assets are distributed to a group of potential beneficiaries.
Life Interest Trusts
Allows a beneficiary (a 'Life Tenant') to receive income from the trust (e.g., live in a house) for their lifetime, after which the assets pass to others.
Real UK Case Study: The Duties of a Trustee
Nestor v Nestor [2013]
The Situation: A son was appointed as the sole trustee of his mother's property trust. The beneficiaries were himself and his siblings.
The Problem: The son treated the trust property as his own, living in it for years without paying rent to the trust and failing to properly manage or distribute the assets to the other beneficiaries. This was a clear breach of his legal duties as a trustee.
The Outcome: The court removed the son as the trustee due to his misconduct. The case highlights that trustees are not free to do as they wish; they are legally accountable to the beneficiaries and must act in their best interests.
What this means for you: Choosing your trustees is a critical decision. Our solicitors can act as professional, impartial trustees, or provide robust legal advice to your chosen family members to ensure they fulfil their duties correctly and avoid disputes.
"His expertise guided me and lead me to a successful outcome"
Your Questions About Trust Funds
Creating a trust is a more complex legal task than writing a standard Will, and the cost reflects this specialist expertise. We work on a fixed-fee basis and will provide you with a clear, written quotation for your approval before any work begins, so you have complete certainty on the costs involved in protecting your assets.
Trustees have a significant legal responsibility. They must manage the trust assets according to the law and the terms of the trust deed, always acting in the best interests of the beneficiaries. This can include managing property, handling investments, and paying funds to beneficiaries. Due to the legal liability, many people choose to appoint a professional solicitor as a trustee.
This is a common misconception. If you own a property, you have a significant asset that could benefit from the protection of a trust. Trusts are invaluable for a wide range of common situations, such as protecting a child's inheritance or providing for a vulnerable relative, regardless of the total value of your estate.
Secure Your Legacy with Specialist Advice
A properly structured trust is the most powerful protection you can give your family. Let our expert trust fund solicitors provide the clarity and security you need.
Request a Callback to Get StartedGet in Touch
0330 333 8797
info@wildings-solicitors.co.uk
Visit us
862-864 Washwood Heath Rd, Ward End, Birmingham, B8 2NG
Opening Hours
Monday to Friday
9.00am - 5.00pm
